Goodman & Nekvasil P.A., May Recover Investor Losses – James Luis Fonseca (Jay Fonseca) Fired by Rothschild Lieberman LLC and Barred from Securities Industry
From 2014 until Jay Fonseca’s firing in 2015, Jay Fonseca was licensed with Rothschild Lieberman LLC. Jay Fonseca was subsequently licensed with Newport Coast Securities, Inc. Jay Fonseca was previously licensed with Meyers Associates, L.P. and Cape Securities Inc. According to FINRA’s records, Jay Fonseca was fired by Rothschild Lieberman LLC on November 23, 2015. Rothschild Lieberman reported to FINRA that Jay Fonseca took client funds into a personal family account, then forwarded funds into a day trading account.
Subsequent to Jay Fonseca’s firing by Rothschild Lieberman LLC, FINRA investigated Jay Fonseca and brought a disciplinary action against Jay Fonseca. Jay Fonseca was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on November 28, 2016. FINRA reports that Jay Fonseca accepted $25,000 from an individual Jay Fonseca was soliciting to become a customer of Jay Fonseca’s member firm, who agreed to invest in a day trading endeavor with Jay Fonseca. The findings stated that Jay Fonseca deposited and comingled the individual’s funds in a bank account controlled by Jay Fonseca and Jay Fonseca’s wife. According to FINRA, Jay Fonseca then converted some of those funds at a time when the individual was a customer. The findings also stated that Jay Fonseca failed to appear for on-the-record testimony (OTR) and failed to provide information requested by FINRA in connection with its investigation into whether Jay Fonseca comingled and converted customer funds. According to FIRNA, Jay Fonseca informed FINRA that Jay Fonseca would not appear for an OTR at any time and would not otherwise cooperate in FINRA’s investigation.
FINRA reports that an arbitration claim was filed involving Jay Fonseca’s conduct with Investors Capital Corp. alleging unauthorized trading. This arbitration claim did not settle and proceeded to final hearing. The arbitrator found Jay Fonseca and Investors Capital Corp. jointly and severally liable, and ordered an award against Jay Fonseca and Investors Capital Corp.
If you lost any money on investments with Jay Fonseca, while Jay Fonseca was employed with Rothschild Lieberman LLC, Newport Coast Securities, Inc., Meyers Associates, L.P. and/or Cape Securities Inc., you may be able to recover your losses from Rothschild Lieberman LLC, Newport Coast Securities, Inc., Meyers Associates, L.P. and/or Cape Securities Inc. This is because Rothschild Lieberman LLC, Newport Coast Securities, Inc., Meyers Associates, L.P. and Cape Securities Inc. had a duty to supervise Jay Fonseca.
If you lost money on investments with Jay Fonseca and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Rothschild Lieberman LLC, Newport Coast Securities, Inc., Meyers Associates, L.P. and/or Cape Securities Inc. concerning Jay Fonseca’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Jay Fonseca and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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